Winter Family Acquires Multifamily Property In Burbank For $1.475M

The multifamily property located at 2907 Riverside Drive in Burbank has been sold in a recent transaction. The property consists of 4 units with a total square footage of 3,023. The asking price for the property was $1,600,000, and it was ultimately sold for $1,475,000. The price per unit (PPU) for the property is $368,750, and the price per square foot (PPSF) is $488.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,475,000
• Address: 2907 Riverside Drive, Burbank
• Market: Burbank
• Units: 4
• Square Footage: 3,023
• Asking Price: $1,600,000
• Price Per Unit: $368,750
• Price Per Square Foot: $488

The buyer of the property is the Winter Family, while the seller is the Grant Family. Justin Seigel from ADR Preferred Business Properties represented the buyer as the buyer's representative in the deal.